National Pension Service grew its position in shares of Cardinal Health, Inc. (NYSE:CAH – Free Report) by 3.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 477,491 shares of the company’s stock after buying an additional 17,492 shares during the period. National Pension Service owned about 0.21% of Cardinal Health worth $113,433,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. California State Teachers Retirement System grew its holdings in shares of Cardinal Health by 22,881.2% during the second quarter. California State Teachers Retirement System now owns 85,193,767 shares of the company’s stock valued at $20,238,631,000 after purchasing an additional 84,823,056 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Cardinal Health during the second quarter worth approximately $6,293,115,000. Wellington Management Group LLP raised its stake in Cardinal Health by 247.5% during the 2nd quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company’s stock valued at $3,530,206,000 after acquiring an additional 10,584,119 shares in the last quarter. State Street Corp increased its holdings in shares of Cardinal Health by 1.8% during the fourth quarter. State Street Corp now owns 12,509,230 shares of the company’s stock valued at $2,570,647,000 after purchasing an additional 221,497 shares during the period. Finally, Geode Capital Management LLC grew its position in Cardinal Health by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 6,529,013 shares of the company’s stock valued at $1,336,750,000 after buying an additional 43,924 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, CEO Stephen Mason sold 35,000 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $236.40, for a total value of $8,274,000.00. Following the sale, the chief executive officer owned 18,061 shares in the company, valued at approximately $4,269,620.40. This trade represents a 65.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Deborah Weitzman sold 7,354 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $235.45, for a total transaction of $1,731,499.30. Following the transaction, the chief executive officer directly owned 77,901 shares of the company’s stock, valued at $18,341,790.45. This represents a 8.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 210,271 shares of company stock worth $49,626,657. 0.12% of the stock is currently owned by company insiders.
Cardinal Health Price Performance
Cardinal Health (NYSE:CAH – Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.49. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%.The firm had revenue of $63.67 billion during the quarter, compared to analysts’ expectations of $65.15 billion. During the same quarter in the prior year, the business earned $2.08 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, equities analysts expect that Cardinal Health, Inc. will post 12.55 EPS for the current year.
Cardinal Health Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be given a dividend of $0.5158 per share. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, October 1st. Cardinal Health’s payout ratio is currently 28.49%.
Analyst Ratings Changes
Several analysts have recently weighed in on the company. Leerink Partners set a $292.00 price objective on Cardinal Health in a report on Tuesday, August 11th. Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. UBS Group lifted their target price on shares of Cardinal Health from $274.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Evercore reissued an “outperform” rating and set a $270.00 target price on shares of Cardinal Health in a research note on Wednesday, August 12th. Finally, Barclays lifted their target price on Cardinal Health from $258.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th. Sixteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and an average price target of $266.56.
Check Out Our Latest Stock Report on Cardinal Health
Cardinal Health Company Profile
Cardinal Health, Inc is a healthcare services and products company that supports the pharmaceutical and medical industries. Its Pharmaceutical and Specialty Solutions segment distributes branded, generic and specialty pharmaceuticals, over-the-counter products and consumer health items to pharmacies, hospitals, health systems and other healthcare providers. The segment also provides specialty pharmaceutical services, nuclear and radiopharmaceutical products, and related support for manufacturers and providers.
Through its Global Medical Products and Distribution segment, Cardinal Health manufactures, sources and distributes medical and surgical products, including gloves, gowns, syringes, exam-room supplies and other essential equipment.
Featured Stories
- Five stocks we like better than Cardinal Health
- AeroVironment’s Record Backlog and Earnings Beat Fuel Recovery Case
- Corning Just Locked In a Massive Verizon Fiber Deal as AI Infrastructure Expands
- 3 Under-$20 Stocks Tied to the Future of U.S. Energy and Materials
- Uncle Sam’s Quantum Leap: Feds Fund a $300M Quantum Supercycle
Want to see what other hedge funds are holding CAH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cardinal Health, Inc. (NYSE:CAH – Free Report).
Receive News & Ratings for Cardinal Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardinal Health and related companies with MarketBeat.com's FREE daily email newsletter.
